Paul Grant, Accountancy Age, Friday 23 July 2010 at 09:38:00

Advanced Power Components keeps on David Turner as lead audit partner beyondfive year limit to ensure continuity, after new FD is appointed


Advanced Power Components has announced that it is to keep its lead auditpartner beyond the recommended five years, due to recently appointing a new FD.

David Turner from Reeves + Neylan has been the audit engagement partner atAPC for the last five years, the limit recommended by the Financial ReportingCouncil before lead partners are rotated.

The directors at APC, however, have used the flexibility allowed by the fiveyear rule to allow Turner to hold the position for a further two years.

This was to ensure continuity in the audit processes continued following therelatively recent appointment of Rob Smith as finance director.

Further reading:

Companies given nod to keep audit partners for sevenyears